The following is a Market Report release from Legend NumismaticsWhat is written in this report are the observations and market experiences of legend numismatics. We deal in the top 5% of coins for the grade and all rarities. Others will have different views on the shows and the market. THE PNG SHOWDon't ask us how with all the love we express towards the PNG we ended up with a table at their NYC show. Plus, we're not even members! Anyway, the show itself was semi cramped-but was held in a nice location, the Millennium Hotel in Times Square (of course that made it a security nightmare for us).
The show had very decent attendance from the PNG dealers (we saw many West Coast dealers in attendance). The public was sparse, but we did see several high rollers show up for the few minutes we were there Thursday afternoon. Due to extreme activity back at the office we could only send our WHOLESALE Sales team to the show. Overall, our sales were weak-in line with our expectations. We will admit, this was not the PNG show of the old days. There definitely was no attitude about non PNG members attending or taking tables. We do think the NYC Show has some potential.
There were also two major auctions being held in conjunction with the show. They were smaller sales. From our point of view there was very little "must" have coins in either. In fact, combined we barely spent $100,000.00-which we have not done a figure like that since probably 1999! It is our strong opinion, that even though the PNG wants to show case its PNG Auction members, they should stick to ONE auction during the show.
Back at the office, overall activity was slow-but then we were extremely distracted between the auction activities and closing these two major deals and working on two more HUGE deals for next week. We do believe this past weeks drop in the stock market will only fuel more diversification and buying of collectables-especially coins n the next few weeks. We've seen cycles like this before. It is also our opinion gold has hit its bottom. Of course only time will tell!
HIGH END COLLECTABLES STILL SELLINGA purple pink 8.41 ct diamond sold this week for $17.7 million-clearly above its $15.5 million estimate. yet again, even with all the instability in the markets around us-high end collectables are more in demand today then ever! The best coins are definitely holding up-and in some cases even advancing.
LEGEND MAKES TWO WORLD CLASS ACQUISITIONSThe heart of our week was not selling off our web site or attending the PNG Show. It was the acquisition of TWO WORLD CLASS collections. Their combined value is $4,000,000.00. Included are some of the FINEST KNOWN coins for a series! Every coin in each collection is the BEST of the BEST in terms of quality and eye appeal. BOTH collections were built by Legend.
To make this clear, BOTH collectors changed their goals. They are not selling for any other reason. The new collections they are now building are just insane! Both collectors are up to the challenge as are we.
We'll have just a few coins from this awesome collections listed in the current NEWPS. It will take us 2-3 weeks to process and get them all posted. Of course there are some Want List coins in the sets-and a few lucky people WILL be getting calls. When monster deals like this come in-its every reason why you need to have a good close relationship with a dealer. These are deals you would definitely want first shot on!
The coins in these collections are so incredible we will make this statement: you will NOT find anything like them in any upcoming auctions-even the upcoming Gardner sale. Not all great coins are sold via auction. Plus, virtually EVERY coin is CAC beaned!
NEWPS-AN AMAZING GROUP OF NAFTZGER LARGE CENTSEven though we were swamped working to acquire these two major collections, we also spent time preparing a world class group of Nafztger Large Cents for your consideration. As many of you know (besides the fact we are closet copper weenies), the Naftzger coins are all of the VERY FINEST quality. There never has been nor, will there ever be anything else even remotely close to them offered. Our favorite pieces being offered: 1C 1839 SILLY HEAD N-9 PCGS MS65RB CAC, 1C 1842 PCGS MS65RD SMALL DATE N-2 CAC, and the monster 1C 1851 N-10 PCGS MS65RD CAC that Nafztger once labeled MS70! Once this incredible group is gone, that's it folks. Good luck finding any more great Naftzger pieces as most are locked away solidly in collectors hands.
Other NEWPS: here are a few pieces from our acquisitions of the two great collections: SET: 10C, 25C, 50C 1867 PCGS PR66 Benson. What a MONSTER set of Proofs! Phenomenal colors rings cover each coin. Your jaw will drop and lock while your eye balls pop out! We are selling the 3 coins as a set only. There is a MONSTER $1 1879 Trade PCGS PR67 Cameo CAC. Its nicer than most of the PR 68's we've seen. Last, for toppers, how about an ultra rare $10 1888 PCGS PR65+ DCAM CAC. Only 75 were minted. And it has NOT been dipped.
Just wait until we start offering the Early Bust MS coins! Again, we assure you, these are all coins that are nothing less then amazing! Not all great coins are sold via auction.
THE GARDNER SALEIf you seek representation: CALL US NOW. We have already looked at the lots. While not as dynamic as the first group, we do expect heavy pent up collector interest.
All representation is done on a first come finest serve basis. We are more then qualified to represent collectors and our buyers attend the sale itself. All auction rep inquires should go to: lsperber1
@
hotmail.com.
LEGEND RARE COIN AUCTIONSWe're still on a high from the performance of last weeks auction. Monday and Tuesday not only were we swamped with shipping, we had numerous well wishers calling and emailing us congrats on the sale. To everyone we say a heart felt thank you! However, we could not have had such success with out the collectors. Congrats to all the lucky winning bidders!
Now its time to move on and focus on our December Sale. We are pleased to announce that our long time friend and customer Bob R Simpson has graced us with yet another world class collection-his all time number one set of MS
Barber dimes. This was a set we exclusively built starting back in 1996-first for the Law Collection. Then we brokered the set to Mr Simpson back in 2009. When Mr Simpson asked us to sell this set (as part of his house cleaning) we resisted and tried to sell it as set. Unfortunately, we found no buyers and will now have to break our hearts and break up this remarkable set.
Also included will be the AMG collection of PR
Barber dimes (all PR66 CAC and finer). We will be selling this as a set only.
We are expect to pick up two more MAJOR collections this week. Announcements will be made next Market Report.
Its obvious collectors now know what LRCA can do. Our last sale blew the lid off world record prices for colored Morgans. To get $35,250.00 for an 80S and $45,825.00 for an 81S-not many firms can do that! Plus, if you go back and look at the highlights from each of our sales to date, you'll see the prices we get are as good-and in many cases BETTER then the big boys.
We are accepting consignments right now for our December Regency Auction to be held in conjunction with the PCGS Invitational in Las Vegas Dec 18th. If you have special coins you wish to consign, please contact Julie Abrams ASAP at: julie
@
legendauctions.com
Posted 10/13/2014 09:34 am
